EU Allows Sony To Take Full Control Of Sony BMG

Law360, New York (September 15, 2008, 12:00 AM EDT) -- The European Commission has cleared the way for Sony Corp. of America to buy out partner Bertelsmann AG and acquire the 50 percent of music company Sony BMG that it does not already own.

Following an investigation, the EC ruled Monday that the deal “would not significantly impede effective competition” in Europe. Sony BMG will be renamed Sony Music Entertainment Inc. and will be a wholly owned subsidiary of Sony.

Sony BMG is currently the second-largest music company in the world after Universal Music Group, a...
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